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Building & Condo information

Grace

4575 Ash Street


Vancouver West, V5Z 3G2 VVWSC - South Cambie

Official Website: https://www.gracewestside.com Marketers Website: www.magnumprojects.ca Developers Website: www.vicinihomes.com
  • Levels: 3
  • Suites: 43
  • Status: Under Construction
  • Built: 2024
  • Building Type: Strata Townhouses
  • Bldg#: 16467

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Grace MLS® Listings

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Building Info

Grace - 4575 Ash Street, Vancouver, BC V5Z 3G2, Canada. Crossroads are Ash Street and W 31st Avenue. Developed by Vicini Homes. Garce has a total of 43 units and 3 storey. Grace, 43 boutique townhomes ideally located on a quiet tree-lined side street where Ash and West 30th intersect, just a block away from QE Park. These single-family inspired 2 bed + flex and 3 bed + den/nursery homes have been carefully considered in their design, size and functionality.

Grace offers classic townhome layouts designed for livability.

With individual street addresses and private, direct access to your home from the parkade, your neighbours are on either side not above or below.

3 bed + den/nursery layouts with over 1,545 sq.ft. of indoor living space and large 2 bed + flex homes over 1,200 sq.ft.

All homes have over 450 sq.ft. of outdoor living space for entertaining including a rooftop deck, as well as a bonus private storage room.

Source: Grace Westside

Sales Centre: www.magnumprojects.ca
Official Website: https://www.gracewestside.com
Phone: 778-737-0987
Email: info@gracewestside.com
Sales Address: 3265 Heather Street, Vancouver
Strata Sub Categories: Strata Townhouses
 

Grace Technical Info

Building Name Grace
Address 4575 Ash Street
City Vancouver West
Neighborhood South Cambie
Listing Price Range N/A
Floors 3
Units in Development: 43
Units in Strata:43
Sub Categories:Strata Townhouses
Year Built 2024
Developer Vicini Homes
Architect Name Shape Architecture
Architect Phone 604 687 4457
Architect Email info@shapearchitecture.ca
Designer House of Bohn
Official Website https://www.gracew
Restrictions Details
  

Typical Floor Plan (Click image to go to BCFP)

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August 2023 Market Insights

July 2023 housing market statistics.

Strong sales figures push up house prices.

July 2023 Market Insights | REBGV

Home prices across all home types in Metro Vancouver rose again in July, as strong sales figures continue to push up against low levels of housing inventory in the region. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,455 in July 2023, a 28.9 per cent increase from the 1,904 sales recorded in July 2022. This was 15.6 per cent below the 10-year seasonal average (2,909). “While sales remain about 15 per cent below the ten-year average, they are also up about 30 per cent year-over-year, which is not insignificant,” Andrew Lis, REBGV’s director of economics and data analytics said. “Looking under the hood of these figures, it’s easy to see why sales are posting such a large year-over-year percentage increase. Last July marked the point when the Bank of Canada announced their ‘super-sized’ increase to the policy rate of one full per cent, catching buyers and sellers off guard, and putting a chill on market activity at that time.” There were 4,649 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2023. This represents a 17 per cent increase compared to the 3,975 homes listed in July 2022. This was 5.2 per cent below the 10-year seasonal average (4,902). The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,301, a four per cent decrease compared to July 2022 (10,734). This was 14.4 per cent below the 10-year seasonal average (12,039). Across all detached, attached and apartment property types, the sales-to-active listings ratio for July 2023 is 24.9 per cent. By property type, the ratio is 16.5 per cent for detached homes, 32 per cent for townhomes, and 30.6 per cent for apartments. Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. “What’s interesting to see in the current market environment is that, while the Bank of Canada rate hike this July was only a quarter of a per cent, mortgage rates are now at the highest levels we’ve seen in Canada in over ten years,” Lis said. “Yet despite borrowing costs being even higher than last July, sales activity surpassed the levels we saw last year, which I think says a lot about the strength of demand in our market and buyers’ ability to adapt to and qualify for higher borrowing costs.” The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,210,700. This represents a 0.5 per cent increase over July 2022 and a 0.6 per cent increase compared to June 2023. Sales of detached homes in July 2023 reached 681, a 28.7 per cent increase from the 529 detached sales in July 2022. The benchmark price for a detached home is $2,012,900. This represents a 0.6 per cent increase from July 2022 and a 1.1 per cent increase compared to June 2023. Sales of apartment homes reached 1,281 in July 2023, a 20.7 per cent increase compared to the 1,061 sales in July 2022. The benchmark price of an apartment home is $771,600. This represents a 2.6 per cent increase from July 2022 and a 0.6 per cent increase compared to June 2023. Attached home sales in July 2023 totalled 466, a 53.3 per cent increase compared to the 304 sales in July 2022. The benchmark price of an attached home is $1,104,600. This represents a 1.2 per cent increase from July 2022 and a 0.5 per cent increase compared to June 2023.

June 2023 Housing market Statistics

Home prices continue to rise in Metro Vancouver’s housing market to kick off the summer Continuing the trend that has emerged in the housing market this year, the benchmark price for all home types in Metro Vancouver1 increased in June as home buyer demand butted up against a limited inventory of homes for sale in the region. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales2 in the region totalled 2,988 in June 2023, a 21.1 per cent increase from the 2,467 sales recorded in June 2022. This was 8.6 per cent below the 10-year seasonal average (3,269). “The market continues to outperform expectations across all segments, but the apartment segment showed the most relative strength in June,” Andrew Lis, REBGV’s director of economics and data analytics said. “The benchmark price of apartment homes is almost cresting the peak reached in 2022, while sales of apartments are now above the region’s ten-year seasonal average. This uniquely positions the apartment segment relative to the attached and detached segments where sales remained below the ten-year seasonal averages.” There were 5,348 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2023. This represents a 1.3 per cent increase compared to the 5,278 homes listed in June 2022. This was 3.1 per cent below the 10-year seasonal average (5,518). The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,990, a 7.9 per cent decrease compared to June 2022 (10,842) This was 17.4 per cent below the 10-year seasonal average (12,091). Across all detached, attached and apartment property types, the sales-to-active listings ratio for June 2023 is 31.4 per cent. By property type, the ratio is 20.9 per cent for detached homes, 38.5 per cent for townhomes, and 39.4 per cent for apartments. Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. “Despite elevated borrowing costs, there continues to be too little resale inventory available relative to the pool of buyers in Metro Vancouver. This is the fundamental reason we continue to see prices increase month over month across all segments,” Lis said. “With the benchmark price for apartments now standing at $767,000, we repeat our call to the provincial government to adjust the $525,000 threshold exempting first-time home buyers from the Property Transfer Tax to better reflect the price of entry-level homes in our region. This is a simple policy adjustment that could help more first-time buyers afford a home right now.” The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,203,000. This represents a 2.4 per cent decrease over June 2022 and a 1.3 per cent increase compared to May 2023. Sales of detached homes in June 2023 reached 848, a 28.3 per cent increase from the 661 detached sales recorded in June 2022. The benchmark price for a detached home is $1,991,300. This represents a 3.2 per cent decrease from June 2022 and a 1.9 per cent increase compared to May 2023. Sales of apartment homes reached 1,573 in June 2023, an 18.6 per cent increase compared to the 1,326 sales in June 2022. The benchmark price of an apartment home is $767,000. This represents a 0.5 per cent increase from June 2022 and a 0.8 per cent increase compared to May 2023. Attached home sales in June 2023 totalled 547, a 17.6 per cent increase compared to the 465 sales in June 2022. The benchmark price of an attached home is $1,098,900. This represents a one per cent decrease from June 2022 and a 1.5 per cent increase compared to May 2023. Download the June 2023 stats package.

May 2023 housing market statistics

While the year started slower than usual, Metro Vancouver’s1housing market is showing signs of heating up as summer arrives, with prices increasing for the sixth consecutive month.The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,4112in May 2023, which is a 15.7 per cent increase from the 2,947 sales recorded in May 2022, anda1.4 per cent decline fromthe 10-year seasonal average (3,458).

Real Estate Related News Articles(Sun and Province) Search News  

Mandarin 
# Article Publish Date Source
1 Vancouver and Toronto no longer in bubble risk territory with an avg 10% drop in prices in last year

Vancouver and Toronto, Canada’s largest real estate markets, have seen a significant shift in housing market risk, according to the latest UBS Global Real Estate Bubble Index for 2023. This year’s report indicates the cities are no longer in the bubble risk category; instead, they are considered “overvalued.”

The report highlights that the sharp drop in housing market imbalances was not solely due to declining house prices but also a result of inflation-driven income and rental growth....


Vancouver and Toronto no longer in bubble risk territory
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2 Elton Ash, Re/Max Canada’s executive vice president, will retire at the end of October this year.

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Many Airbnb users with bookings in New York City this Christmas are scrambling to find new accommodations.

The regulations, which caused an uproar among travelers and short-term rental owners, require hosts be present for stays of less than 30 days, with no more than two people staying in a dwelling at a time. Hosts must also register and get approval from the city — or both hosts and booking sites may be subject to hefty fines.


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4 B.C. to streamline permitting, offer incentive to homeowners to rent secondary suites

The province is launching a new guide for homeowners who want to build and manage a rental suite on their property. That comes ahead of planned legislation to make secondary suites legal throughout B.C. and an incentive program that would offer some 3,000 homeowners forgivable loans of up to $40,000 to build and rent them below market rate.

The province is also launching a one-stop shop digital hub for homebuilding permit applications to help clear backlogs.


B.C. will offer up to $40,000 in forgivable loans to homeowners who want to bu
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5 Ottawa pledges to overhaul competition rules to tackle affordability crisis

The federal government plans to strengthen competition laws, cut the GST from new home rental construction and push grocery chains to stabilize prices or face consequences, in a wide-reaching effort to address the rising cost of living that the Liberals acknowledge has left voters angry and frustrated.

Prime Minister Justin Trudeau unveiled the measures at the end of a three-day caucus retreat in London, Ont., where the beleaguered Liberals have been regrouping in the face of declining public opinion polls, falling fundraising numbers and a resurgent Conservative Party.


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